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Nintendo complete £674 million share buy back

It was last September that brought the news that Nintendo’s former president Hiroshi Yamauchi had sadly passed away, aged 85 years old. His stake in the company had been passed to his four children after his death.

Within a statement released by Nintendo, they confirmed that his family have shared their “desire to sell their holdings of the Company’s common shares,” and have today announced that some of these have been purchased through a 114 billion yen (£674 million) made such acquisition.

Nintendo bought 9.5 million shares at yesterday’s closing price of each being worth 12,025 yen individually, which amounts to 7.43 percent of their outstanding stock.

Nintendo had last week signalled that they intended to spend as much as 125 billion yen (£739.25 million) to buy back company shares.

[Thanks Bloomberg]

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